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Liquidity, Institutional Quality and the Composition of International Equity Flows

Goldstein, Itay - 2010

FDI investors control the management of the firms, whereas FPI investors delegate decisions to managers. Therefore, direct investors are more informed than portfolio investors about the prospects of projects. This information enables them to manage their projects more efficiently. However, if...

Persistent link: https://www.econbiz.de/10012462924

Liquidity, Institutional Quality and the Composition of International Equity Outflows

Goldstein, Itay - 2008

We examine the choice between Foreign Direct Investment and Foreign Portfolio Investment at the level of the source country. Based on a theoretical model, we predict that (1) source countries with higher probability of aggregate liquidity crises export relatively more FPI than FDI, and (2) this...

Persistent link: https://www.econbiz.de/10012464879

Equity Prices and Equity Flows : Testing Theory of the Information-Efficiency Tradeoff

Razin, Assaf - 2010

The paper tests three hypotheses concerning foreign equity investment in the presence of liquidity risk. First, the FDI …-to-FPI price differential is negatively related to liquidity risk (the "Price Discount Hypothesis"). The idea is that market …

Persistent link: https://www.econbiz.de/10012462005

Do Some Enterprise Zones Create Jobs?

Kolko, Jed - 2009

We study how the employment effects of enterprise zones vary with their location, implementation, and administration, based on evidence from California. We use new establishment-level data and geographic mapping methods, coupled with a survey of enterprise zone administrators. Overall, the...

Persistent link: https://www.econbiz.de/10012463443

International Capital Movements Under Uncertainty

Grossman, Gene M. - 1983

and international trade in goods and securities.In our model, the world allocation of capital is governed, to some extent …, by the asset preferences of risk averse consumer-investors. In a one-good variant in the spirit of the MacDougall model … world of certaint and may hinge on the identity of the factor which is used intensively in the industry with random …

Persistent link: https://www.econbiz.de/10012478028

Risk and Exchange Rates

Obstfeld, Maurice - 1998

a sticky-price alternative to Lucas's (1982) exchage rate risk premium model. We show that the level risk premium' in …

Persistent link: https://www.econbiz.de/10012472119

Evaluating School-To-Work Programs Using the New NLSY

Neumark, David - 2000

offer to help students prepare for the world of work,' and an accompanying survey includes information on school …

Persistent link: https://www.econbiz.de/10012471042

The Employment Effects of Recent Minimum Wage Increases : Evidence from a Pre-specified Research Design

Neumark, David - 1999

This paper presents evidence on the employment effects of recent minimum wage increases from a pre-specified research design that entailed committing to a detailed set of statistical analyses prior to 'going to' the data. Despite the limited data to which the pre-specified research design can be...

Persistent link: https://www.econbiz.de/10012471616

Who Pays for and Who Benefits from Minimum Wage Increases? Evidence from Israeli Tax Data on Business Owners and Workers

Drucker, Lev - 2019

A key goal of a higher minimum wage is income redistribution towards low-income families. Existing research on the minimum wage focuses on the impact on affected workers, but is silent on the incomes of the owners of businesses who pay for a higher minimum wage. Higher minimum wages will do more...

Persistent link: https://www.econbiz.de/10012480515

The Econometrics and Economics of the Employment Effects of Minimum Wages : Getting from Known Unknowns to Known Knowns

Neumark, David - 2018

I discuss the econometrics and the economics of past research on the effects of minimum wages on employment in the United States. My intent is to try to identify key questions raised in the recent literature, and some from the earlier literature, which I think hold the most promise for...

Persistent link: https://www.econbiz.de/10012480696